I retired after tax season 2020 so had no taxable W2 income for 2021. That reduced my income for the year, but those paychecks had been going into my credit union account to pay my car payment so I didn’t really miss the income during the year and the car is now paid off. Finished up my 2021 taxes this morning and for the first time since I’ve been collecting Social Security I’m not being taxed on 85% of it. My 2021 adjusted gross income went down by about $8000 more than the W2 income I received in 2020. Maybe I should have retired sooner!
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